Tullow Oil plc reported production results for the year 2012. Group working interest production for 2012 averaged 79,200 boepd. This slight shortfall versus the most recent guidance was caused by the enforced shutdown of Tullow's non-operated production in the CMS area of the UK in early December 2012 following a safety incident. The matter has been resolved and production resumed to normal levels at the end of December 2012. Working interest production volumes do not equate to sales volumes which averaged 68,000 boepd in 2012 against 66,800 boepd a year ago.

For the year 2012, capital expenditure was amounted to $1.9 billion. Net debt at 31 December 2012 was approximately $1.0 billion.

Total revenue for 2012 is expected to be of the order of $2.35 billion.

Production guidance for 2013 will be in the range of 86,000 to 92,000 boped which includes all gas assets currently held for sale. Based on current estimates and work programmes, total capital expenditure for 2013 is forecast to be $2.0 billion, excluding acquisition costs. Approximately 45% will be allocated to exploration and appraisal and the remainder to selected development activities.